Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4426 Haiti Lane Pasadena, TX 77505

3 Beds 2 Baths 1,368 sqft Built 1981

$169,990

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $124.26
  • 4 Days on Market
  • MLS # : 21118198
  • Updated Date : 01/30/2021 at 11:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full
Listing Agent

Mark Dimas Properties

Listing Agent's Description

Modest single-story home featuring 3 bedrooms, 2 baths, a 2-car attached garage, and an open floor plan! There's a vaulted ceiling in the living room with a brick fireplace, and the kitchen includes a newer disposal, updated dishwasher, and wood laminate counter-tops and back-splash. The master bedroom is separate from the secondary bedrooms for added privacy and also has a vaulted ceiling while the backyard has plenty of green space and a patio with a pergola. This home is located with easy access to retail and Beltway 8!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Fairmont Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $76k305k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Fairmont Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8732063

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Turner Elementary School Primary Regular 569 36 7
Elmer G Bondy Intermediate School Middle Regular 998 59 8
Pasadena Memorial High School High Regular 3,121 177 5

Turner Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
7
GreatSchools Rating

Elmer G Bondy Intermediate School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 59
8
GreatSchools Rating

Pasadena Memorial High School

  • Education Level: High
  • # of students: 3,121
  • # of teachers: 177
5
GreatSchools Rating
 

$152,991$186,989$169,990

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$590
Property Tax -$412
Property Insurance -$120
HOA -$6
Property Management Fees -$99
CASH FLOW
$362

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$169,990

PROJECTED PRICE

$1,590

PROJECTED RENT

0.94%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,797

INVESTMENT

$50,797

Down Payment
$42,498
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,498
Loan Amount $127,493
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$30,811

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,590

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,607

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5903$1,6254$1,7005$1,799
$1,799
RENT COMPS ANALYSIS
  • 4426 Haiti Lane Pasadena, TX 2
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.16
    •  
  • 4614 Kenya Lane Pasadena, TX 1
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1983
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.17
    •  
  • 4602 Jamaica Lane Pasadena, TX 3
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1983
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.21
    •  
  • 4215 Glen Avon Drive Pasadena, TX 4
    • 3 beds 3 baths ∙ 1,458 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,458 Sqft ∙ Built 1984
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
  • 4727 Cornoustie Street Pasadena, TX 5
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1983
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.15
    •  
PROPERTY LISTING DETAILS
Mark Dimas
1.281.861.6199
Mark Dimas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 21118198
Last Updated: 01/30/2021
BESbswy